Fiscal Sustainability of the German Lander: Time-Series Evidence

被引：2

作者：

Burret, Heiko T. ^{[1
]}

Feld, Lars P. ^{[2
]}

Koehler, Ekkehard A. ^{[1
]}

机构：

[1] Walter Eucken Inst, Goethestr 10, D-79100 Freiburg, Germany

[2] Albert Ludwigs Univ Freiburg, Walter Eucken Inst, GoetheStr 10, D-79100 Freiburg, Germany

来源：

FINANZARCHIV | 2017年 / 73卷 / 01期

关键词：

fiscal sustainability; federalism; unit root; cointegration; public debt; US PUBLIC DEBT; BUDGET DEFICITS; FEDERAL-BUDGET; AMERICAN STATE; CONSTRAINTS; TRANSFERS; REVENUE; POLICY;

D O I：

10.1628/001522117X14864674910029

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We analyze the sustainability of public finances in the 16 states (Lander) of the Federal Republic of Germany, using an unprecedentedly comprehensive fiscal data set covering the period from 1950 to 2011 for West German Lander and from 1991 to 2011 for East German Lander. We extend the existing literature in that we apply unit-root and stationarity tests not only to debt but also to expenditure and revenue and explore their long-run relation in cointegration analyses for each Land. The results provide evidence against strict fiscal sustainability in a majority of German Lander. A notable exception to this finding is Bavaria.

引用

页码：103 / 132

页数：30

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